Magic Eden’s rollout from an “official $ Trump wallet” soon became a flash point in the crypto world this week. Marketed as a flagship product for Trump supporters, the wallet promised a $ 1 million reward pool in $ Trump -Tokens -until the Trump family hit the celebration.
The launch announcement, posted On the official X account of Magic Eden, claimed: “The official $ Trump wallet is coming soon! The first and only crypto wallet for real Trump fans.” It commissioned users to register with Trumpwallet.com for an opportunity to win a share of $ 1 million in token rewards.
And now? Confusion, skepticism for the community and growing control over how the rollout took place.
Trump -Family drops the hammer
Almost immediately after the announcement, Eric Trump and Donald Trump Jr. the wallet publicly rejected. Eric gave a sharp warning:
“This project was not authorized by @trump. @Magiceden I would be extremely careful with our name.”
(Tweet from 3 June—link))
Barron Trump, in his very first post on X, Chimed in:
“To be clear, our family has no involvement in this wallet.”
(Posted June 3—link))
The Trump organization, according to Donald Jr., is working on its own official crypto wallet via World Liberty Financial -which is not related to the magical Eden effort.
Community Backlash Against Magic Eden
Magic Eden CEO Jack LU also promoted the rollout and described it as part of a wider push to mainstream users on board in Crypto. In a tweet of 3 June, he wrote: “The time to take large bets and mainstream is on board now.”
While Magic Eden says that the wallet was built in collaboration with the $ Trump Memecoin team, that explanation did not calm the crypto community.
The return has converted a hyped launch into a reputation problem for Magic Eden. Users search answers about how such a high-profile rollout took place without public authorization of the Trump family.
Even the X account that promotes the wallet, @trumpwalletApp, is suspended – to adding doubts about the legitimacy of the effort.
Trump’s growing role in crypto
The Trump family has become more and more Active in cryptoLaunching NFT collections, promoting memecoins such as $ Trump and supporting a Stablecoin via World Liberty Financial. They are also collaborated on a Bitcoin mining company, have pursued and pushed and pushed a truth to social Bitcoin ETF Pro-Crypto policy Focused on positioning the US as a global blockchain leader.
What is the next step for Magic Eden?
At present, neither Magic Eden, the $ Trump -Tok -Team, nor CEO Jack Lu has tackled the controversy. That silence strengthens concerns and undermines confidence in the project.
The crypto-room-all wary of ambiguous surf and famous companies is not patient for uncertainty.
While the dust covers, Magic Eden must take into account the consequences of a controversial launch that went wrong and a cryptoma community that demands transparency.
